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flag JPMorgan defends $105B 2026 spending plan amid profit drop, regulatory scrutiny, and industry cost cuts.

flag JPMorgan Chase CEO Jamie Dimon is defending the bank’s $2 billion weekly spending plan—projected to reach $105 billion in 2026—during a condensed investor day, citing long-term growth amid competition from fintechs and tech giants. flag Despite a 7% drop in fourth-quarter net income, the bank’s strong profits and $60 billion in excess capital support the strategy, which includes 160 new U.S. branches, tech investments, and hiring. flag Dimon emphasizes sustained investment over buybacks, though no detailed quarterly updates will be provided. flag The move stands out as other major banks cut costs, and the bank faces regulatory scrutiny, including a €12 million fine in Europe.

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